
Cotton futures closed out the Thursday rally with contracts up 80 to 159 points across most contracts. The outside markets are generally supportive, with the US dollar index was $0.325 lower at $98.600. Crude oil was back up $4.06 on the day.
The monthly update to the USDA balance sheet for cotton showed the US side unchanged at 4.4 million bales for carryout, as the cash average price was up a penny to 61 cents. The world balance sheet was up 0.65 million bales to 77.04 million bales.